Analyst says BTC is forming a bottom at $60K

Bitcoin may be forming a bottom around $60,000 and could be poised for a technical trend reversal, according to analysts. Cointelegraph reports that crypto analyst Jelle noted an Adam and Eve pattern, a type of double bottom, is appearing on the BTC/USD 12-hour chart. This pattern is interpreted as a bullish signal indicating a potential shift from a downtrend to an uptrend. Jelle assessed that for the bullish momentum to continue, Bitcoin must hold the $70,000 level, warning that failure to maintain this support could lead to a significant increase in volatility. Separately, Nic Puckrin, CEO of Coin Bureau, explained that the Bitcoin-to-gold price ratio (BTC/XAU) has been in a downtrend for 13 months since its peak in December 2024. He pointed out that in the past three cycles, it took approximately 14 months for the ratio to move from its peak to the bottom, a timeline that has generally coincided with bear market bottoms.